National Storage REIT (NSR) - Net Assets

Latest as of December 2025: AU$356.30 Million AUD ≈ $252.10 Million USD

Based on the latest financial reports, National Storage REIT (NSR) has net assets worth AU$356.30 Million AUD (≈ $252.10 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$6.21 Billion ≈ $4.39 Billion USD) and total liabilities (AU$5.85 Billion ≈ $4.14 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are National Storage REIT's assets to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$356.30 Million
% of Total Assets	5.74%
Annual Growth Rate	44.58%
5-Year Change	59.2%
10-Year Change	813.07%
Growth Volatility	179.17

National Storage REIT - Net Assets Trend (2012–2025)

This chart illustrates how National Storage REIT's net assets have evolved over time, based on quarterly financial data. Also explore National Storage REIT asset portfolio for the complete picture of this company's asset base.

Annual Net Assets for National Storage REIT (2012–2025)

The table below shows the annual net assets of National Storage REIT from 2012 to 2025. For live valuation and market cap data, see NSR company net worth.

Year	Net Assets	Change
2025-06-30	AU$3.64 Billion ≈ $2.57 Billion	+3.72%
2024-06-30	AU$3.51 Billion ≈ $2.48 Billion	+3.55%
2023-06-30	AU$3.39 Billion ≈ $2.40 Billion	+19.29%
2022-06-30	AU$2.84 Billion ≈ $2.01 Billion	+24.26%
2021-06-30	AU$2.28 Billion ≈ $1.62 Billion	+32.69%
2020-06-30	AU$1.72 Billion ≈ $1.22 Billion	+32.01%
2019-06-30	AU$1.30 Billion ≈ $922.86 Million	+46.50%
2018-06-30	AU$890.28 Million ≈ $629.93 Million	+21.52%
2017-06-30	AU$732.62 Million ≈ $518.37 Million	+83.91%
2016-06-30	AU$398.35 Million ≈ $281.86 Million	+3.29%
2015-06-30	AU$385.66 Million ≈ $272.88 Million	+57.85%
2014-06-30	AU$244.33 Million ≈ $172.88 Million	+2.02%
2013-06-30	AU$239.50 Million ≈ $169.46 Million	+694.28%
2012-06-30	AU$30.15 Million ≈ $21.34 Million	--

Equity Component Analysis

This analysis shows how different components contribute to National Storage REIT's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 392.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (June 2025)

Component	Amount	Percentage
Retained Earnings	AU$134.70 Million	39.98%
Common Stock	AU$200.30 Million	59.45%
Other Comprehensive Income	AU$1.90 Million	0.56%
Total Equity	AU$336.90 Million	100.00%

National Storage REIT Competitors by Market Cap

The table below lists competitors of National Storage REIT ranked by their market capitalization.

Company	Market Cap
Centrais Elétricas Brasileiras S.A. - Eletrobrás NYSE:EBR-B	$2.77 Billion
Four Corners Property Trust Inc NYSE:FCPT	$2.77 Billion
Mivne Real Estate KD Ltd TA:MVNE	$2.77 Billion
Rush Street Interactive Inc NYSE:RSI	$2.77 Billion
SoundHound AI Inc NASDAQ:SOUN	$2.77 Billion
Beijing Venustech Inc SHE:002439	$2.77 Billion
Regional S.A.B. de C.V MX:RA	$2.77 Billion
KCC Corporation KO:002380	$2.77 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in National Storage REIT's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 305,279,000 to 336,900,000, a change of 31,621,000 (10.4%).
Net income of 27,500,000 contributed positively to equity growth.
Dividend payments of 104,800,000 reduced retained earnings.
Share repurchases of 100,000 reduced equity.
Other comprehensive income decreased equity by 159,000.
Other factors increased equity by 109,180,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	AU$27.50 Million	+8.16%
Dividends Paid	AU$104.80 Million	-31.11%
Share Repurchases	AU$100.00K	-0.03%
Other Comprehensive Income	AU$-159.00K	-0.05%
Other Changes	AU$109.18 Million	+32.41%
Total Change	AU$-	10.36%

Book Value vs Market Value Analysis

This analysis compares National Storage REIT's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 11.45x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 11.87x to 11.45x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2013-06-30	AU$0.24	AU$2.79	x
2014-06-30	AU$0.02	AU$2.79	x
2015-06-30	AU$0.03	AU$2.79	x
2016-06-30	AU$0.03	AU$2.79	x
2017-06-30	AU$0.14	AU$2.79	x
2018-06-30	AU$0.08	AU$2.79	x
2019-06-30	AU$0.11	AU$2.79	x
2020-06-30	AU$1.69	AU$2.79	x
2021-06-30	AU$2.23	AU$2.79	x
2022-06-30	AU$2.38	AU$2.79	x
2023-06-30	AU$2.72	AU$2.79	x
2024-06-30	AU$0.22	AU$2.79	x
2025-06-30	AU$0.24	AU$2.79	x

Capital Efficiency Dashboard

This dashboard shows how efficiently National Storage REIT utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 8.16%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.68%
• Asset Turnover: 0.06x
• Equity Multiplier: 17.21x
Recent ROE (8.16%) is above the historical average (5.12%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	-0.22%	-1.17%	0.12x	1.55x	AU$-24.49 Million
2014	-81.69%	-37.40%	0.11x	19.88x	AU$-19.22 Million
2015	-4.01%	-2.05%	0.10x	18.95x	AU$-4.66 Million
2016	-0.54%	-0.22%	0.09x	26.96x	AU$-3.52 Million
2017	10.51%	6.02%	0.08x	21.14x	AU$348.00K
2018	2.31%	1.27%	0.08x	22.29x	AU$-5.90 Million
2019	4.66%	3.40%	0.07x	20.60x	AU$-6.21 Million
2020	7.07%	68.45%	0.07x	1.53x	AU$-50.40 Million
2021	13.56%	142.23%	0.07x	1.42x	AU$81.24 Million
2022	21.86%	223.20%	0.07x	1.43x	AU$336.73 Million
2023	9.46%	96.67%	0.07x	1.35x	AU$-18.25 Million
2024	75.43%	64.92%	0.07x	16.92x	AU$199.74 Million
2025	8.16%	7.68%	0.06x	17.21x	AU$-6.19 Million

Industry Comparison

This section compares National Storage REIT's net assets metrics with peer companies in the REIT - Industrial industry.

Industry Context

Industry: REIT - Industrial
Average net assets among peers: $862,449,000
Average return on equity (ROE) among peers: 4.55%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
National Storage REIT (NSR)	AU$356.30 Million	-0.22%	16.43x	$2.77 Billion
Abacus Storage King (ASK)	$2.12 Billion	6.53%	0.53x	$1.32 Billion
BWP Trust (BWP)	$973.96 Million	7.18%	0.37x	$2.02 Billion
Centuria Industrial REIT (CIP)	$108.94 Million	-4.63%	1.71x	$1.33 Billion
Dexus Industria REIT (DXI)	$249.84 Million	9.11%	0.63x	$558.98 Million

About National Storage REIT

AU:NSR Australia REIT - Industrial

Market Cap

$2.77 Billion

AU$3.92 Billion AUD

Market Cap Rank

#5182 Global

#122 in Australia

Share Price

AU$2.79

Change (1 day)

+0.00%

52-Week Range

AU$2.24 - AU$2.79

All Time High

AU$2.79